Introduction to Valuing Information in Unconventional Resources
Learn to frame and evaluate a wide variety of day-to-day energy industry value-of-information (VOI) problems, specifically in unconventional resources.
Attendees will be introduced to a step-wise approach to value information in resource plays and will work a few commonly encountered unconventional resource play information decision problems. Decisions around pre-frac data and valuing seismic at the program level for detecting sweet spots and high grading drilling locations and drilling order will be worked in multi-discipline breakouts. These will be interspersed with lectures and discussions. An overview of spacing pilot design framing and evaluation will also be covered.
Using VOI workflow software (DTrio) to guide the evaluation and the reference cases provided, attendees will learn how VOI decisions are set up and evaluated, sensitivities are performed on key input variables, and insight is gained to determine if and when new information can add value.
- Develop an understanding of the VOI workflow and its practical application
- Understand how VOI is an important aspect of asset management and decision analysis
- Learn how to frame and value information which may change “go/no go” asset decisions, and be introduced to how VOI affects “how to go” or optimization asset decisions
- Learn how to evaluate acquiring information in unconventional resource plays
Known throughout the industry, this course provides an overview of how to practically evaluate information decisions in unconventional resources quickly and correctly. The confidence you gain from information when considering unconventional resources justifies its cost.
Who Should Attend
Reservoir engineers, project managers, geologists, geophysicists, commercial analysts and economists, production, facility and drilling engineers working unconventional resources
Laptops are recommended but not required.
0.8 CEUs (Continuing Education Units) will be awarded for this 1-day course.
All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14 day window will not be refunded. Refunds will not be given due to no show situations.
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Kent Burkholder is an advisor and consultant with extensive experience in strategy development, decision framing and facilitation, and petroleum economics and risk analysis. For over twenty-five years, Burkholder has assisted oil and gas companies around the globe in developing E&P strategies, from exploration, to production development, through downstream, and into new technology. Burkholder is a professional engineer and member of the Society of Petroleum Engineers.
Ellen Coopersmith is the founder and president of Decision Frameworks, a consulting, training, and software practice focused on building decision capability in the energy industry. Prior to forming Decision Frameworks, Coopersmith worked 16 years at Conoco, the last five of which were focused on leading one of the industry’s most successful implementations of decision analysis and improved decision making. She is a published speaker on decision making and decision analysis implementation and has headed up her global practice for the past 14 years.
Coopersmith received a BS in petroleum engineering from the Colorado School of Mines.